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California 26, Us 21, Obama 12, New York 11, Romney 10, America 10, Lifelock 7, Stuart 7, Nfl 6, Israel 6, Nicole 5, Abc 5, U.n. 5, Ohio 4, New York City 4, Karl Rove 4, Gretchen 4, Washington 4, Walgreen 4, Caterpillar 3,
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  FOX Business    Varney Company    News/Business.  
   Wall Street news. New.  

    September 25, 2012
    9:20 - 11:00am EDT  

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♪ imus in the morning ♪ >> ahmadnejad speaks, he says israel will be eliminated. good morning, everyone. iran's president is in new york, still pouring out the venom. he says israel has no roots in the middle east and in a calculated provocation, ahmadnejad will speak to the world's leaders of the u.n. tomorrow. that's yom kippur. president obama will appear on "the view" this morning, he will not hold any face-to-face meetings with any foreign leaders while in new york. he speaks to the u.n. later today. but it is a labor dispute that has really got the country talking.
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a bad call by substitute refs on the final play ends a nfl game in flat-out chaos. if this doesn't bring the regular refs back, what will? watch out, "varney & company" is about to begin. [ male announcer ] what if you had thermal night-vision goggles, like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account.
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>> good morning, "varney & company" viewers, today is tuesday, september 25th, six weeks from today we vote. the president obama, he's in full campaign mode, in aappearance on abc's "the view", the president continues his line of class warfare against mitt romney. listen to this. >> governor romney on 60 minutes was asked does he think it's fair that he pays a lower tax rate than somebody making $50,000 a year and he said yes, i think it's fair, and i also think that's the way you get economic growth. i just got a different vision about how we grow an economy.
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i think, barbara, that you grow an economy from the middle out, not from the top down. stuart: that's the friendly audience of "the view." also on the president's agenda today addressing the united nations general assembly. the president though will not meet with any world leaders after his speech. and when asked by the hosts of "the view", why he isn't meeting with his counterparts he said i'm just supposed to be icaey eye candy for you guys, end quote. attack mode, that team is getting sharper edged more combative, the team of romney ryan. paul ryan clearly went off the president on foreign policy, listen to this from yesterday. >> turn on the tv and it reminds you of 1979 tehran, when they're burning our flags and capitals all around the world. they're storming our embassieem we've lost four of our diplomates and what is the signal that our government is sending the rest of the world?
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we're being equivocal on our values, we're being slow to speak up for individual rights, for human rights, for democracy. stuart: a reminder again, please, the president is addressing the u.n. today at around 10 a.m. eastern, but rather than meeting with the world's leaders, he'll appear on the view, roughly late morning eastern time. a few more details on ahmadnejad in new york. here for the united nations general assembly and will address the assembly tomorrow, that will be yom kippur. according to iran's news agency he'll meet with members of the occupy wall street movement and looks like he'll be staying with the one percenters, and staying in a hotel in a room that costs $775 per night. and the world leaders are assembled in new york and president obama is not holding a single one-on-one meeting, the president secretary says he's too busy and he'll be appearing on "the view", and we'll meet
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with the author of the book "the amateur" and one very big named company sees the world heading south. bad news from cat. the opening bell is next. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally.
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housing market. that's the back drop to stock exchange today. case-shiller survey of home prices shows 1.6% gain in july over the month before. not a bad gain. and a 1.2% gain on the same month a year before. so it hears the housing market is not flat on its back, a modest comeback and here is possibly why. mortgage rates sunk to a new low, according to, let's say, bank rate.com. 30 year fixed is down to 3.4%. i took my first mortgage at 12%. and who would have thought 3 1/2 percent was possible. and we're expecting a gain of 30 points by the time we get rolling. there we go, up 27. this is one of the stocks that
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speaks volumes about the global economy. the construction equipment maker, biggest in the world, caterpillar, cut the profit forecast because it's says the global economy is look weak in future. so, nicole, how big a hit to the stock. >> the latest in the heavy weights, saying that that's down 2 1/2% and obviously, a big loser on the dow jones industrials. also how many dow points it's worth just by a stock that is heavily weighted within the index, they're saying that they're going to have to cut the forecast. the point that was interesting, though, this is the good point. we're going to be profitable regardless of what they say, we'll be profitable and these are the numbers and barclays are cutting the price target as well. stuart: i'm just using that company as an indicator of global economic activity. if they're pointing their profits south, i'm saying that's a kattar for the global economy, which is not a positive play to me. >> absolutely, absolutely. it shows that it's-- we're seeing it in materials, right. with less demand for things like coal and steel.
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and if you have the economy you have all of these things. >> and despite that, look where we are, the dow industrials almost at 13,600. 600 points away from an all time high and an indicator saying that the global economy is moving south. that's very interesting. >> it's such a-- >> it's got to be because, it's got to be because everybody is printing money. i mean, japan, europe, even china, the united states, print, print, print, up goes the market. i want to go back to president obama and the u.n. general assembly. no face-to-face meetings with world leaders. instead he will appear on abc's "the view", i've got a clip from his appearance. listen to this. >> she should run for office, she says she doesn't want to. >> yeah, i-- i think that michelle would be terrific, but temperamentally i just doesn't think that-- >> all right.
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friendly audience, light weight subject matter. joining us now is ed klein, the author of the book "the amateur" that refers to president obama. ed klein. >> great to be here. stuart: it appears that the president is disappearing political professionalism by going on "the view", getting to an audience, conventional broadcasts don't reach. >> there's a difference between his political professionalism and astuteness and his governance, which is amateuristic. in other words, when he gets into the washington mix, he's unable to get things done because he doesn't reach out to people. he doesn't create personal relationships in washington. he doesn't even create personal relationships with foreign leaders either for that matter as we've seen, but when it comes to his own egotistical presentation of himself to the
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american public, he's fantastic. he is one of the great performers in politics in our lifetime. stuart: do you put it down to just his inability to-- he can't get things done because he can't reach out and establish relationships around washington d.c. which is what you have to do. is that the only reason for this president? don't you think that perhaps his policies are geared towards failure, in my opinion? >> well, yes, his policies, you're absolutely right. his policies are rigid, it's my way or the highway. for instance, when he has the meetings with the republicans or the democrats for that matter, he lays out a plan and if anybody so much as looks cross-eyed at him, he gives them what they call the death stare. he doesn't like anybody contradicting him. he thinks he knows best and so his policies are not proposals that are open to negotiations.
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for instance, ronald reagan had policies that were always open to negotiations, with tip o'neil, and they worked things out. this is not the way this president works, it's either his way or nothing happens. stuart: all right, i would say you've harshly characterized the president "the amateur". how would you characterize mitt romney so far the way his campaign is going and presents himself to the public. >> well, sadly, i don't think he's exactly been the pro. i don't think he's been the master. i think he's shown a lot of amateurism as well, running for president. stuart: political amateurism, not policy. >> oh, no, the policies, i think are solid, as the rock of gibralter. i think we see him stumbling, doing things that are not in his own political interests. he seems to have a bit of a tin ear. i think he's gotten better, but he still has a long way to go. stuart: can i ask how the book is going? sold a lot, hasn't it.
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>> the book is going fantastically, 20 weeks, number two on the new york times best seller list still. stuart: not bad, ed. not bad. come back and see us again. >> i'd love to. stuart: thank you, sir. one of the big themes of the presidential race, i think i can say this, is what we're calling income envy. according to a new poll, that issue may be swaying in mitt romney's favor, how about that? a politico george washington survey, of voters, gives romney the edge by a wide margin. leads president obama 55-41. that is 14 points, interesting. i don't know how they define middle class, but that's the result of the poll. and coming up in the ten o'clock hour, two big names in the republican party, rnc chairman, and karl rove coming up next hour. and i used to live in california, a beautiful state that has a great deal to offer, got it. it's now a horrible place to do
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business, job killing environmental laws, job killing regulations and as a result, people are leaving in droves. that story is our new at 10 story, the max exodus from the formerly golden state. and then our guy in california will join us about that exodus from california. let's go nicole, in the past we put blackberry maker rim on death watch. cue the-- ♪ >> nicole, is it right to put them on death watch? >> i don't know what to tell you. be very careful. they have the blackberry and the blackberry is it still a popular item. yes, it's losing market share to the snazzier iphone of course, however, it's still something people want. so, are people going be to buy the product, a takeever target potentially? yes, the stock a $6. this stock in '08 was $145. so, obviously, a big loss there.
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but, we'll see what happens, 10-year low not a good sign. if you're a shareholder. stuart: that organ music, that's legitimate to use when a stock reaches a 10 year low. ♪ >> that's an organ. >> and that's like when you open the creaking door. stuart: sorry, research in motion. all right, nicole, dow is up 24 points, 13,583 is where we are. time is money as we often say, so, here is 30 seconds, what else we're watching for you. charter schools did not close during the chicago teachers strike. we will talk to a charter school pioneer about the differences that the private sector charter schools can make, versus the public schools unionized public schools. we'll talk about it. eliminate israel, what? strong words from the iranian president at the general assembly. you can bet the judge has something to say about that. and he will. and there are many unhappy fans this morning after a blown call
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cost the packers the game. the nfl, some people are saying desperately needs the regular refs back now. we will ask sports agent eugene lee about that later. and of course, we want to hear what you think. it's not just about football. anything that crosses your mind. any issue that we raise, varney@foxbusiness.com is how you reach us. and ed klein is still hitting here, if you wish, got it. seven early movers, what is it, tuesday. here we go. caterpillar lowered its profit forecast. doesn't see a rosie future for the global economy and down goes that stock. profits fell and the software maker red hat and that's down a little, not much. our partners of all things d reporting that yahoo! chief marissa mayer is expected to outline to employees her plans to strengthen the business, no impact on the stock. air cargo company, forward air,
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32, shares are down. and net tune technology will offer more shares, market doesn't like that. and market resource, and as we said, we've got rim on death watch. and rim, 10-year low close to that. 6.39. the dow is up 24. the national debt now above 16 trillion, but the president won't take responsibility for the 5 trillion added on his watch and most of it is not his fault. are voters buying that? next. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams
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and what it means for me. woman 2: i'm tired of the negative ads and political spin. that won't help me decide. man 2: i earned my medicare and social security. and i deserve some answers. anncr: where do the candidates stand on issues that... affe seniors today and in the future? find out with the aarp voters' guide at earnedasay.org
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>> modest gain for the stock market. we're at 13,582. the not bad. and check the price of oil. recently, stabilizing around $92 per barrel as of this morning. president obama told david letterman, the rising national debt is not a concern in the short-term. and told 60 minute the debt isn't his fault, blamed bush. here is the opinion section of the wall street journal quoting directly now. the annotated obama, how 90% of the deficit becomes somebody else's fault. a scathing editorial debunks the president's assertions about all the that he inherited. and frequently joining "varney & company" we appreciate you being with us, mark. >> good to see you, always a pleasure. stuart: good. now, the president says he's not responsible for the debt
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largely, not concerned about it in the short-term. i put it to you, that this is being irresponsible. he's getting away with it because a lot of people don't understand the jargon, your eyes glaze over when you start to talk about debt and deficit, he can get away with it, but he's dismissing extremely important part of america's financial life and i think being irresponsible. how do you respond? >> i don't think that he's dismissing it at all. in fact, the president said many times that the debt, the long-term debt is a serious problem and that's why he signed over 2 trillion dollars in spending cuts during his administration. but the core question you're raising is, who really is responsible for this. the congressional budget office looked at this issue and they came out with some clear conclusions and basically, about 80% or so, of the policies lead to this deficit, lead to this debt were enacted under the the bush administration, the nonpartisan congressional budget office.
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stuart: you'll stand on that. you will stand on what he says, despite what the wall street journal is-- but you'll stand on that? you'll stand-- >> nonpartisan and-- >> not with the editorial page of the wall street journal. stuart: okay, but you will stand on his public statements about the debt. not all his responsibility and he's not concerned about it in the short-term. you'll stand on that? >> but he is concerned about it in the median term. stuart: i think he's running away from it, mark. he knows that that is a significant negative, he's running away and successfully so. i think he's running away successfully. >> if he didn't think it was a problem. why would assign over 2 trillion dollars in spending cuts? the answer is only one reason because he does believe it's a serious problem. look the reality is the president invited speaker boehner and other leaders from congress to come to the grand bargain that would have made a lot of changes in our fiscal picture, brought down the deficit and the debt in a significant way. at the end of the day the
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speaker walked out and said no, we can't. stuart: there's a different version to that, mark, as we all know. the 2 trillion spending cut for the president is not cutting the deficit it's lowering the rate of deficit and whatever cuts they are, take place down the road. and i digress, the president doesn't mention obamacare. that simply isn't part of his campaign and yet, that's the major achievement, i thought, of his first term. why is he running away from that as well the debt? >> i don't think he's running away from either. the president's speech at the convention, today as a result of his policies. people can't be kicked off because of pre-existing conditions, there are no lifetime-- there are kids treated for cancer today because of his policy that would have-- because of his policies that would have been denied coverage just a year ago. so the reality is he's talked about the impact that the health care policy had and tremendously
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positive. in fact for a lot of americans. those who have to repeal it have to figure out what to say to the parents who are getting the treatment that wouldn't otherwise. stuart: and nancy pelosi, speaker pelosi says, everybody knows it, president obama is going to win. are you so sure? >> well, look, i live in a world of probability not certainly. i think that the probability is that president obama is going to win, that's certainly the greater probability, but there are no certainties here, a lot can happen between now and election day. stuart: always a pleasure, mark. thank you. it's almost 9:49 about a minute to go before 9:50, but we always give you the gold price at this time so here it is. 1,774.80, we're up 10 bucks today. interesting. while world leaders are gathering in new york, president obama is not meeting with any of them. instead sitting down with barbara walters and whoopi goldberg and last week on david letterman. do these appearances make him
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look presidential or just simply help with young voters? good question. we will ask rn krchc chairman r priebus if it's working for the president and if romney should be doing the same copying with young people. what should he do: teachers strike, are unions standing in the the way of progress of our public schools? we'll ask the president of a charter school about that. and a major debacle at the end of the monday night football game, the replacement officials make the wrong call. after this, is it time for them to tell them to hit the road? gretchen and charles are next.
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>> i've got one issue with democrats and republicans seem to agree. it's time to bring the refs back to the nfl. this was the last straw. >> the final play, it's a loft to the end zone, it's caught by tate, with jennings simultaneously, who has it? who did they give it to? >> confusion over will it should be an interception or a touchdown, refs take ten minutes
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to review and ruled a touchdown and seahawks win and packers lose. most say it's the wrong call. check out the headline espn, clueless in seattle. and huffington post, mayhem replacement ref debacle in seattle. is it time to bring them back. >> i don't know if we should pay them what they demand. bring the refs back, yes. football is my favorite support. they can't actually change the decision on a touchdown on the final play in the game, so even if they went upstairs and talked about it. the rule then and there sticks, i think so. >> that was the situation yesterday. i've got to tell you this thing is so big i'm wondering if there are t-shirts where were you when the bad call was made. i was on the treadmill and tell you something, it was absolutely amazing, but to your earlier point, it gives the ref leverage, but i don't know what the nfl wants, what the commissioner wants, with respect
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to the negotiation. but-- >> bring them back, yes or no. charles: ultimately, yes, but. stuart: bring them back now? bring them back now? >> now what, come on, and-- >> amazing leverage for the refs. charles: we're going to see games, and regular refs and a call they don't like and they'll say bring back the replacement refs. stuart: and maybe we can agree, i don't know. thank you, everybody, see you you shortly. we keep calling california the formerly golden state. numbers to prove it, people leaving california in droves. that will be a new at ten story. and also at the top of the hour, reince priebus, he runs the party. [ male announcer ] let's say you need to take care of legal matters.
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[♪...] ♪ >> the numbers tell the story of just how far california has fallen. nearly 4 million people have left the state in the past two decades. 225,000 a year fleeing for the last ten years, that's the average per year getting out. and california is no longer a prosperous place to do business. the full story coming up new at 10. check the big board. not much movement. up 37 points and now it's close to 13,600. it's tuesday morning, here is our company, the allstars are here, fox and friends host
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gretchen carlson with us and charles payne is back and nicole petallides still on the floor of the new york stock exchange. all right, nicole, caterpillar, i think it's a big indicator for the global economy, but the stock is down, the profits are down. where are we? >> it's down over 2% today. it's a dow component, it's weighing on the dow slightly, but the big picture though, is this is an economic indicator. and there is your economic growth globally and that's got to cut into the profits for the next couple of years, 2016. will they stay profitable? regardless of the recession, they say, yes. however, it's the latest big company saying, listen, going to have to cut our numbers. stuart: thank you, nicole. more in a moment. i'm looking at the dow close to 13-6 find that surprising, points away from the all time high when the global economy is
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headed south and the consumers confidence 70 a pretty strong reading, might tip it over 13-6. we're 13,594 right now. i don't call it the formerly golden state for nothing. over the past ten years, an average of 225,000 people per year have left california. all right, everybody, i say that california is broke, that the california politicians and their policies are driving people out and they will not learn that lesson. am i totally wrong, gretchen? >> no, you're totally correct. because anybody there who owns a small business or owns a business in general, they're going to leave if they can. they know they're going to continue to be taxed and taxed and taxed and they can go to texas and not pay any state income tax. they can go to an a variety of other states and not be saddled with the kind of taxes that are needed to keep up with all the other programs. stuart: charles. charles: not only can they, they are. they have been doing that and if you look at the last census report, what you've seen is millions of people leave that state, real smart, innovative
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people with jobs skills and they have been replaced by inskilled immigrants and that's why they have a lot of of people there. not the same type of people and one point you talk about the golden state. of the top five poorest regions in this country, three are in california. stuart: really. charles: and number two, modesto, and bakersfield. these are highest percentage of people under the poverty line. stuart: you know, fworn brown has signed legislation which would force employers, who do not now offer a private pension plan to offer a private pension plan. charles: and we always talk about looking at greece. we always talk about looking at portugal and spain. we don't have to look at that far to see what happens-- >> you're right. i lived in california. i got my start in california. and this is the late 1970's. gretchen: i was educated in california. i loved the palm trees.
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stuart: who would have thought in the 1970's, who would have thought it would become a petry dish for socialism in three out of four districts in the united states and doing it themselves. gretchen: by the way, i wasn't there in the '70s, i gotcha. [laughter] >> i was there in the golden age. charles: 2005 she was there. gretchen: no, but it wasn't the '70s. stuart: all right, everybody, back to the november election, please. president obama still has the lead over mitt romney in most of the polls. the president's appearances on shows like "the view" give mimm a wide audience, a wide appeal of the cross section voting of the public. and the rnc reince priebus joins us now. welcome back. the conventional wisdom is that mitt romney has had a horrible week and yet, he's not really behind that much in the polls. and here we have the president going on "the view" and going on
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letterman. is it possible that governor romney is just too nice and not playing good politics? >> well, you forget about obama's important interview with pimp with a limp as well, so you've got to add that on to the list. you know, i think that this president's engaging in sort of an american idol type campaign and i think at some point, he's going to have to get serious about being a leader of this country. i mean, today, for example, as you alluded to-- >> wait a second. i hate to interrupt the man who runs the republican party, but his policy, the strategy of president obama, he's winning. he's taking attention away from the debt and obamacare and the weak economy, unemployment. he's appealing for his personality. >> he wasn't won anything. he hasn't won anything. he's not winning, he hasn't won anything. the fact of the matter is after the week that you alluded to, he's statistically tied in the
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polls. i mean, we've got a poll out this morning that shows that, what is he, 3 points ahead. we have one rasmussen shows that we're 1 point up and dallas is tied, but still a long campaign. we've got four debates coming, we've got two jobs reports coming and i think that this is going to come down to bread and butter, stuart. stuart: we'll see. gretchen: and thingfully the debates are finally going to be upon us and maybe people can suddenly start to focus on the issue than the surface as stuart is alluding to. here is my question, a lot of people, republicans included, want mitt romney to be more aggressive and take on president obama, but it's my understanding that the strategists are telling him to remain neutral because that will be more favorable with the independents. is that what you're telling him to do? >> no, well, first of all i'm not telling him-- >> is that what you'd like him to do. >> giving him the orders. but everything i've seen is not
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true. i look at the opposite is true. i think that in fact, if you looked over the last few days at least, especially if you go back to, i think, at least last week, i think that if anything, the campaign is ratcheted up, as far as being aggressive, being on offense, charging up the hill. i will tell you that i think the strategy of the campaign is win every day. understand the mission today, win today, make the case today. win tomorrow, win the next day, win the week, going into the debates, make the contract. and ultimately, give this country a choice between two futures, and they've heard this many times before, but i'll just tell you, i think the campaign is very well-poised to consistently present the choice of barack obama, cradle to grave and freedom and liberty and what we believe in. stuart: granted he's got the establishment media, governor romney, flat out against him.
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understood. they're firmly supportive of president obama, got it. but you can't tell me that mitt romney can't deliver a stiletto line with real vigor and agr aggressi aggression. and i hate to use this, but-- >> we'll see, the fact is i think if you go back to the primary debates, i think that mitt romney did a very good job of performing an important opportunity when it counted and i think he's risen to the occasion. the fact is we know that president obama is a skilled debater and he's an or atore and this is his bread and butter, but i think that mitt romney is going to be very prepared to make the contrast, to show the difference between him and barack obama, give america a choice. i think ultimately, this is going to come down to not just the economy, but come down to broken promises and i think we've got a complete disaster going on on barack obama's watch
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in the middle east and he's going to have to answer for that. so now national security is coming into the debate. stuart: we look forward to the first debate october 3rd, i believe it is, that would be next week and appreciate you being with us. come and see us again, please. good stuff. stuart: thank you, stuart. >> i see the dow is above. 19,600 up 52 points. there are a couple of winners, carnival shares, cruise lines. why is that hitting a high, nicole? >> they came out with their profits for the quarter, stuart. looking good and new annual high for concern value cruise lines. and they did beat the expectations and they saw revenues and sometimes for available-- and in this case, the revenue per cabin was actually on the rise and higher than the company had foreseen and cut costs and such so it's hitting a new annual high. by the way, we've got consumer confidence at a seven month high, that news came out right
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there at the top of the ten o'clock hour. >> a winner for you. stuart: hold on a second, consumer confidence seven month high, that's why the dow is 13,600. now your other winner. >> i'm sorry, this one is a loser, but it's going to be a winner because they say they are he' going to be winners eventually. by closing 60 stores, then you have staples saying this they're going to save over 200 million, 250 million dollars by doing this in the long run. they are he' chosing 15 stores in the states and five european. stuart: staples-- the dow is 13,609. got it. the american federation of teachers president wine garden gives the chicago teachers union a goldstar for their strike. and the author of "mission impossible-- mission possible" i'm sorry. >> there's a difference. >> "mission possible".
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>> welcome to the program. >> thanks for having me. r. stuart: i'm going to be blunt, i don't think there's any room for teachers union, a huge negative for our students, want to get rid of them. do you >> they're a definite obstruction, i don't think you're going to get rid of them. no matter what you want. i think if we didn't have unions, the problems with american publication goes beyond, we lack rigor in america. stuart: do charter schools deliver rigor in america? >> not enough. stuart: do some have. >> some are unionized, ours is not. stuart: do you have the flexibility because you don't have that on your back. >> we do, but we're not training teachers adequately, we have to stop underestimating the intellectual capacity of children. we have to teach grammar.
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stuart: grammar. >> yes. stuart: we were-- put the camera on me. during the commercial break we were having a grammar quiz, i won, eva lost, it's not a big deal. >> oh, my goodness. stuart: and. charles: in a sense what we're talking about is reaching the parents. >> i know parents i've talked to, and by the way i was on the board of a charter school for a few years, and parents are feeling good because johnnie is getting an a. they don't know what the test is watered down. is that a problem with america in general, this rigor problem? how can we get parents on the side of the kids. >> if you compare our curriculum in america, private and public school, to internationally, we're several levels below what kids in china are expected to do. parents need to wake up.
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just because kids are short, doesn't mean they're stupid. and sometimes some parents wake up. a new movie coming out what's happening, parents get involved and they have a trigger mechanism a take over schools. gretchen: is that what you're advocating? >> that may be one solution. charters are an example of that. we had 13,000 people here in new york city applying for 1200 spots. there are lots ever parents out there dissatisfied with the public school, but there's a supply problem. they have nowhere to go. they don't have parent choice. i'm a tremendous believer in parent choice. stuart: why the foot dragging? >> it's the unions, it's the politicians. i call it the union political educational-- >> the politicians are dragging their feet because the union organizations the vote, which puts in or out the politicians. >> that's, that's correct and it's both a republican issue and a democratic issue, you saw it
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this morning, unions are giving to republicans in ohio as much as the democrats. we've got to have a system responsive to parents and-- is it possible to have a combek tiff order from the president that says from here on out, the federal work force will not unionized. i understand that, do you know what i mean? >> one of the problems, it seems to take a hurricane to unleash a results oriented culture. in louisiana we have moved of more than any other place in america, and it took a hurricane. we have a hurricane. it's not a natural-- we have an educational disaster in this country, and we have a limited time to fix it. stuart: eva, thanks for spending time with us this morning. great to have you with us. will you please come again? we're interested in what you're trying to do. very good stuff, eva, thank you very much. >> thank you. stuart: tomorrow, it's the holeiest day of the the year for
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jews and on that same day at the u.n., mahmoud ahmadinejad will call for elimination of israel. us pouring fuel on what is already a volatile situation. pure provocation. and now, new ads contributing to the debate, appearing in new york city subways, we'll show you that next.
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>> some positive news on the housing front month over month. case-shiller says home prices rose 1.6% in july. and house prices have gone up, but the market has a long way to go. of course. the average price of a home is same level as 2003. ouch. next the consumer retail sales of national chain stores rose 1.7%. that's better than expected. year over year sales up. that report says that back to school shopping was behind that rise. consumer confidence also moving up to a 7 month high. and this morning, speaking of retail, says hits hiring 45,000 temp ray workers at toys "r" us for the big demand for the holiday season. hold on, everybody, don't have that long to wait. the judge is on his way. [ female announcer ] they can be enlightening.
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[ female announcer ] wells fargo. together we'll go far. >> president obama made a specific campaign promise in 2008. he promised to lower health care premiums, but health care premiums have gone up around $3,000 under president obama. according to the latest survey, from the keiser family foundation, president obama promised to lower premiums and they've done so faster in obama's four years-- actually gone up, than the previous years under president bush. got that? strong words from iran's
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president mahmoud ahmadinejad says that israel has no roots in the middle east, can't be taken seriously and to be eliminated. but new york subway ads like this, in any war between the civilized man and the savage, support the civilized man. support israel, defeat jihad. all rise, the judge is here. now, those are acceptable commercials they are running, provocative, but running on the subways and buses in new york city. >> they're running in subways and buses in new york city after lawsuits and the government rejected the ads saying they were intcendiary, and, a judge ruled you can't make that, you want to run the ad, pay the fee. stuart: this is perfectly legitimate thing. what would the ads have to say to make them not legitimate, in the eyes of the law?
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>> all right, here is the general rule of thumb. not my rule of thumb, it's the supreme court's rule of thumb from the last time it reviewed hate speech, a unanimous opinion, it said all innocuous speech is absolutely protected and all speech is innocuous when there's time for more speech to address it. so, if the very presence of that sign inside a subway car caused a riot just because people read it, then there is no time for more speech to rebut it and then the speaker, the person who posted the sign could be prosecuted. but if the very presence of that sign causes a debate in the subway car, then there is time to discuss the speech and it's protected. the purpose of this rule is to encourage maximum free speech and to limit to only the tiniest of variants, whether the government may punish. gretchen: i've heard a lot of different debates in the subway car, quite frankly.
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[laughter] >> i'll say i was driving in this morning back and forth and they brought it up and suggested it was a racist sign, in other words, the word savage, i guess, is, you know, what word-- are there other words that could-- i would have chosen barbaric. >> i think that would have conveyed the same impression and accommodated some of the-- >> but there are some words other than savage that would have said that maybe the courts would have ruled against it? >> well, even, even racially antagonistic, even racist speech, even hate speech. charles: is protected. >> is protected. it would be difficult to con injure jur, on the government's property to do that and, but that speech, what the folks at the radio station fear, i share that fear, is protected speech. >> savage was the questionable word not jihad. charles: from their point of
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view, savage. >> the courts are required to look tt the whole product. they are he' specifically excluded from isolating words. whether in the course of argument they debated savage instead of barbaric or jihad instead of islamist or whatever phrase you want to use, i couldn't tell you. stuart: quick question, the way the law stands now and jurisprudence, judgment of the law as written, is it a good thing? or do you agree with it? >> i profoundly agree with it. because when this law is followed by the government and by the courts, it's not always followed, it provides maximum freedom, maximum opportunity for people in america to speak their minds no matter what they have to say and that's the essence of the first amendment. stuart: all right, judge, i think we agree. >> good to agree with you. >> and the audience-- we'll stir the pot tomorrow. stuart: we certainly will. judge napolitano, thank you very much.
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california was once a great place to live, but i wouldn't want to do business there. certainly not. new rules are sending businesses out of the state and california is losing people at an alarming rate. one of our voices from california is next, we're talking about the exodus. with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea.
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>> when is comes to his own
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egotistical presentation of himself to the american public, he's fantastic, he is one of the the great performers in politics in our lifetime. stuart: that was he ed klein in our last hour, reacting to president obama's decision to go on "the view" instead of meeting with visiting world leaders in new york. don't forget to tune in, "varney & company" starts at 9:20 sharp weekdays. time for a market check, where are we? we're up 40 points, right there at 13,600. look at the price of gold. we were up 10 bucks earlier. and 1776 a great year. check the price of oil. 92.86 we're up almost a dollar. oil and gold today. a slight move in gas prices, a slight move up. 3.81 is your national average for regular, diesel coming down a bit. 4.09. nicole, walgreen's shares are moving up. you want to tell me why? >> this is an interesting one to
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look at. walgreen's was losing customers because after dispute with express scrips and what happened actually cut walgreen's to a neutral and from them any further, until they could figure out what's going on with express scrips. and now goldman's conviction buy list now and a price target of $43, saying that they believe it, they're winning back the customers and we've seen walgreen's jump over 20% in the last three months and if you think that if you have haven't been to a walgreen's, in the tri state area, where there's one on every block, duane-reade. >> a owned by walgreen's. >> a the lot of people didn't know that. let's get back to one of our stories, the california exodus.
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joining us is mark standriff. they've been replaced, but other people moving in. what's the difference between those out and the ones moving in? >> well, i think that those folks haven't found the the exit ramp yet, frankly. and what we're seeing right now, we're seeing a party in power here in sacramento, that continues to figure out especially from the business climate standpoint. we like to go from being the most business unfriendly state in the nation to being the openly antagonistic to any business whatsoever. you're seeing with the legislation sitting on the governor's desk now. passed earlier this month, called sb 1, 2, 3, 4, which sets up a private sector investment plan run by the government. and there are just three words to describe that, would i say whack-a-doodle. if i'm an employer in california
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i don't offer my workers any kind of pension plan or 401(k). i don't offer it. and along comes the state that says you've got to contribute to a pension plan for your employees and you'll have the state of california manage it. that's what we're looking at. is that correct. >> oh, yes, even goes further than that. because you have three options if you're an employer, you can join the state mandated system that's now set up and offer your employees, whether you've got five or 5,000, you've got to offer them your own company retirement investment plan or end up paying a penalty could be as high as $750 per employee per cycle. what makes this worse, the employees are automatically enrolled, they can opt out, but the problem is they have to reopt out every two years and a 3% of minimum out of their paycheck. stuart: mark, we were discussing this on the set before you came
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on with us, none of us understand why california keeps doing this. they are literally driving businesses, driving jobs, driving people out of the state. and we don't know why they're doing this. can you explain it? >> well, you know, i think because again, the party that's been in power here for now nearly four decades. if you look at the actual employment history, with the republicans, they send to be small business owners entrepreneurs, farmers, ranchers, people make things for a living. and from the democrat side, takers, social workers or education backgrounds, the trial lawyers, union representatives and these are folks that never had to make a payroll. they never had to try to figure out the rules and regulations and the red tape that is blocking california business from thriving again and so that mentality, frankly, doesn't allow the nerve endings to have the electricity it make the jump to make a sensible solution. stuart: the question stands, what's the end game here?
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you can't go on like this, you can't. there's a massive budget deficit in california, you haven't got a hope, you haven't got a prayer of bridging that deficit and facing tax increases in the november election, and what is the end game here? >> well, i'll tell you and i don't know if anybody has gone in far to say. everybody talks about california being like greece and some other places ready to go off the financial cliff. i think unfortunately we you may have already gone over the edge and the problem is nobody sees it and in state government. they're busy arguing what kind of parachute everybody should be wearing and that again is the problem with the mentality with the folks running things in california. stuart: mark, we appreciate you being with us. >> i wish i had better news for you. stuart: we tell it how it is. we like that. did you go to school in california. gretchen: stanford, private education. stuart: to stanford university, you went there. gretchen: yes, i did. stuart: where did you go after stanford. gretchen: to get my first job. stuart: no, no, you went to
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oxford. gretchen: i study there had during my time at stanford, yes. stuart: so you went to stanford university. gretchen: oh, charles, where is this going? >> then you went to oxford and you grace the set of "varney & company" with an educational background like that? >> oh, please, yes. well you know what, i had great parents to told me how important it was to get a great education. stuart: that's fantastic. >> be nice to me now, i don't know what's going on. [laughter] >> i'm just an immigrant, you know. gretchen: and the school of economics, not too shabby. stuart: not too bad. we follow the polls closely on "varney & company," and most have president obama and governor romney next and neck and next, karl rove, the man himself, on how accurate the polls really are. could romney actually be winning. ♪
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>> president obama leads mitt romney in most of the national pos. the question, can you trust those numbers? do the polls, if you look internally, do they skew left? who better to ask than karl rove shall former advisor to president bush, he's here in new york. >> thanks for having me, a power panel today. charles: you're going downhill and got to get back out there
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flattery, excellent. so now, if you look at the in r internals of the polls that suggest president obama is in the lead, is there something to suggest they are in the accurate? >> and let's be skept ka. 80 some. the biggest and best polls you have are the exit polls, in '08 the national exit poll showed there were seven points more democrats and republicans nationwide and eight more points more democrat than republicans in ohio. in 2000 it was dead even nationally and five point advantage to republicans in ohio. in 2000, 3 points democrats nationally and one more point democrat in ohio. this gives, this gives us the biggest broadest sense of the partisan makeup. stuart: may i jump in, that suggests that there is indeed a skew towards polling democrats the at the national level and in ohio, is that accurate?
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>> well, this is a probably what reality looks like because these are big huge polls involving tens of thousands of samples taken on election day out of the exits. let's take a look at recent polls, cbs new york times has 13 more democrats in the poll than republicans and three-point rating for romney. do we think-- abc says 6 points nor democrats than republican and 1 point advantage for obama. and 9 points more democrats and a 7 point advantage for obama. all of those, i think, overstate democrat strength. rasmussen, which looks at the last six months of their surveys in order to arrive at at political matrix has 2 points more democrats and 1 point advantage for romney. i think that's closer to reality than any of those other polls. similarly, you see it in ohio, abc washington post poll in ohio 10 points more democrats. that would mean that ohio would be nor democrat than it was even
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in '08 which i can't, i don't know if that's single person who thinks that's likely to be the class and 10 points, each one of them, one an 8 point advantage for obama, one 1 point advantage. so my point is, you've got to look at what is the political makeup of the poll and are they reweighting and taking whoever they get in the is your ray or reweighting to a model and is that model, a model based on '08 which a lot of people use or is it a model that is based on recent data. stuart: on-line, you're skeptical of the polls because of the internals that we've seen so far, you're skeptical. >> the two polls that do reweight nationally to a model also show a stable race and those are rasmussen and gallup. gretchen: i'm concerned with the big picture here. aside from the the numbers on a daily basis, i think that the polls send a subliminal message to the voters out there. because if they day after day, after day. obama is ahead by 5, bank of america is ahead by 5, it works into the obama campaign strategy.
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>> their narrative. >> they say romney is gone. >> there's-- brought back bad memories for me about the 1980 polls, said that jimmy cart ser going to whack ronald reagan. early october. i was young executives for reagan-bush and a new york times poll that says that carter was going to beat, and i remember our headquarters was a mortuary and people were just like going nuts. and of course, reagan-bush carried texas by 13 points. charles: yeah. stuart: go. charles: and i think that's reflected in the consumer confidence numbers that came out today, too, i think that people are hearing that the country is doing great and start to say, okay, maybe it is. they don't know and-- >> people are capable of holding deeply conflicting opinions at the same time and consumer confidence may be up mildly, but the polls show that two-thirds of the people think that president obama's policies have not helped the economy, have
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hurt it and so many people think we're in a recession. stuart: true state of public opinion right now. >> i'd have to say dead heat. look at this, on the 10th of september, gallup 50-44. yesterday 47-46. rasmussen on 10th of september before the libyan comment and 47%, 48-45 obama. yesterday 45 obama-47 romney. stuart: karl rove, the architect, preferred-- >> anytime you say that, the american institute of art sends me an angry letter and professional credentials. stuart: karl, thank you. we knew it would happen only a matter of time. the nfl replacement refs huge last night and cost the packers a win. i think that the nfl needs could go in and pay the refs. and see if eugene agrees with me next. when we got married.
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i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball.
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those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule. >> the dow is up after the conference board says that consumer confidence was up to a seven month high in september. the report says that we are more optimistic about the market and expect to make more money moving ahead. and dow is up by 43. on the housing front, month over month, case-shiller home prices up 1.6%, and the third straight month ever increases. the average home price still way down, to the 2003 levels. do you believe that?
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toyota says it will expand its fleet of hybrid and electric cars the next three years, it plans to offer 21 new hybrids by late 2015 and will include a car powered by hydrogen fuel cell. so there. up next, on the nfl replacement refs. i say bring back the regular refs no matter what it takes? a eugene with me, more the point, was gretchen? andiamo! andiamo! (let's go! let's go!) avanti! avanti! (keep going! keep going!) hahaha...hahahaha! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? happier than christopher columbus with speedboats. that's happy! get happy. get geico. fifteen minutes could save you fifteen percent or more.
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>> the nfl's worst nightmare happened last night. >> the final play is a wilson loft to the end zone, which is you tate with jennings, spontaneous, who do they give it to? >> and the seattle seahawks beat the packers on a last minute touchdown, it probably should have been an interception. it's clear the league needs-- this is my opinion. clear the league needs to bring back the refs and could probably get it done with a new contract with the refs and i say they've got to do it. and joining us now is a sports agent, and nodding his head, agrees with me. >> i agree with you completely, stuart. stuart: they've got to cave and do it fast. >> and comes back to the back pocket of the nfl. if they start to lose fan confidence they'll start to lose revenues. stuart: can you put that in my ear again, i believe because of that bad call last night.
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about 100 million-- 150 to 250 million dollars worth of bets were, what, won, lost, how did that work. >> in a different direction. gretchen: that's a lot of money. >> it is a lot of money and more importantly for the nfl fans are starting to join the uproar, joining the players and coaches. nfl armageddon. stuart: get the refs back if play soon. are they moving toward that or a standoff and stalemate. >> a parallel could be drawn to the lockout last year. both sides are saying they're very far apart. differences. but last year, the threat of losing regular season games became a reality which would mean lost revenues for the nfl, they he came to an agreement very quickly and i think you'll see that here. gretchen: as much as i wanted the green bay packers to lose, i'm sorry i'm a vikings fan, this play was adbominababominab.
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>> when we were here, we talked about this is what the refereeing association wanted. they wanted missed calls, games decided not by the players on the field, but questionable, missed calls, that's what we're getting. you represent players actively in the nfl. >> that's correct. stuart: what do they say? >> they want the refs, the real referees, drew brees said it best. it's the speed of the game. these are not bad people, the replacement people, they are he' coming from lower leagues, not accustomed to the speed of the nfl. stuart: if you're a betting man, i don't know if you are. will you bet that the refs will be back and back real soon? >> my gut feeling an agreement will be reached very, very soon. stuart: what's that, today? because by thursday night, i'm told that kind of a-- >> i'm going to go on record here, stuart, before the end of the week, we will have the replacement refs-- >> thursday night, yes or no. >> the big game. >> and the gram more.
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stuart: who plays thursday night. charles: the browns? ravens and the browns. stuart: ravens and the browns. gretchen: is there any recourse at all for a team who loses as a result of a bad ref call, whether or not they're the real ref? >> no, no recourse at all. on the way in the security guard coming in said we've got to get rid of these referees, so the general public, the concensus is that the replacement have to go. stuart: so you're still hedging. i say they should be back by thursday night. you say by the end of the week. >> i say by sunday. stuart: oh hopeless, hopeless. eugene, thanks for coming. >> thank you, stuart. stuart: the media told us mitt romney's campaign was dead. another example, can we trust the establishment media. my take on that is next. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go.
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>> we are told that mitt romney has gone through a terrible week. we are told that he is going to lose the election. watch the news, read the news and you'd think it's all over, wouldn't you? here is my take on the establishment media again. gallup had president obama up by 5 points ten days ago and now up by about 2. wait a minute, mitt romney was supposed to have gone through a very tough period. so why is he going up not down? answer, the establishment media.
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they will move heaven and earth to paint mitt romney as a nasty rich guy who doesn't care about regular folks. so, romney's critique of run away entitlement is callus. his tax return shows hipocracy. and his outing about apology president is out of bounds. no matter what mitt romney has ever done or will ever do, it will never meet with the approval of our media elite. by contrast, president obama can do no wrong. a couple of exams, the president tells letterman he's not concerned about our 16 trillion dollar debt in the short-term. where was the headline about that? on 60 minutes, the president denied responsibility for four years of trillion dollar deficits. two wars and the bush tax cuts, that's what did it. what? where was the headline exposing this economic mythology. here is my message, don't take your election coverage from the establishment media. don't believe what they tell you.
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they are spinning and they are beginning to look desperate. not only have the elite lowered their own professional standards again, they have let america down again. and that's my take. dad whose online friends all "like" the photos he's posting. he loves the access to tom's personal information. oscar's an identity thief who used tom's personal info to buy new teeth and a new car, and stuck tom with the $57,000 bill. [tires squeal] now meet carl who works from the coffee shop and uses the free wi-fi. marie works from there too. she's an identity thief who used a small device to grab his wi-fi signal, then stole enough personal information to hijack and drain his bank accounts. every year, millions of americans learn all it may take to devastate your life is a little personal information in the wrong hands. this is identity theft and no one helps stop it better than lifelock. lifelock offers the most
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[♪...] stuart: let's roll it please, the highlight reel. >> face-to-face meetings with world leaders, instead he will appear on abc's the view. >> michelle would be terrific but temperamentally i just don't think -- >> i think the president is engaging in sort of "american idol" type campaign. >> he is one of the great performers in politics in our lifetime. stuart: we're almost out of time. but i do have time to thank gretchen carlson, stanford, oxford grad, coming to five hours worth of broadcasting within the fox family today. k